Analysts Offer Predictions for Dycom Industries, Inc.’s Q3 2024 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY – Get Rating) – Investment analysts at KeyCorp decreased their Q3 2024 earnings per share (EPS) estimates for Dycom Industries in a research note issued to investors on Wednesday, May 24th. KeyCorp analyst S. Eastman now forecasts that the construction company will post earnings of $2.28 per share for the quarter, down from their previous forecast of $2.55. The consensus estimate for Dycom Industries’ current full-year earnings is $5.37 per share. KeyCorp also issued estimates for Dycom Industries’ Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $6.85 EPS and FY2025 earnings at $8.26 EPS.

Dycom Industries (NYSE:DY – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.73 EPS for the quarter, beating the consensus estimate of $0.70 by $1.03. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $940.22 million. During the same quarter in the prior year, the company posted $0.51 EPS. Dycom Industries’s quarterly revenue was up 19.3% on a year-over-year basis.

A number of other analysts have also issued reports on the company. Wells Fargo & Company upgraded Dycom Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $105.00 to $120.00 in a report on Thursday. UBS Group upped their target price on Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. StockNews.com initiated coverage on Dycom Industries in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Craig Hallum upped their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $128.80.

Dycom Industries Trading Up 3.6 %

NYSE DY opened at $100.50 on Friday. Dycom Industries has a 12 month low of $77.33 and a 12 month high of $122.13. The company’s 50-day moving average price is $93.81 and its 200-day moving average price is $93.67. The stock has a market cap of $2.95 billion, a PE ratio of 21.20 and a beta of 1.30. The company has a current ratio of 3.18, a quick ratio of 2.93 and a debt-to-equity ratio of 0.93.

Insider Activity at Dycom Industries

In other news, VP Ryan F. Urness sold 3,300 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.90, for a total value of $313,170.00. Following the sale, the vice president now directly owns 26,242 shares in the company, valued at approximately $2,490,365.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Dycom Industries news, CFO H Andrew Deferrari sold 10,282 shares of the stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.11, for a total value of $967,639.02. Following the completion of the sale, the chief financial officer now directly owns 148,425 shares in the company, valued at $13,968,276.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the sale, the vice president now owns 26,242 shares in the company, valued at approximately $2,490,365.80. The disclosure for this sale can be found here. 4.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Dycom Industries by 56.6% during the 1st quarter. Ameriprise Financial Inc. now owns 170,775 shares of the construction company’s stock valued at $15,993,000 after purchasing an additional 61,713 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in shares of Dycom Industries in the 1st quarter valued at $173,000. Thrivent Financial for Lutherans raised its stake in Dycom Industries by 273.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 29,291 shares of the construction company’s stock worth $2,743,000 after acquiring an additional 21,445 shares during the last quarter. Cim Investment Management Inc. acquired a new stake in Dycom Industries during the 1st quarter worth about $225,000. Finally, Southernsun Asset Management LLC grew its stake in Dycom Industries by 13.1% during the 1st quarter. Southernsun Asset Management LLC now owns 657,145 shares of the construction company’s stock valued at $61,542,000 after purchasing an additional 75,865 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.